Have you seen it? You know, “The Changing of the Guard”, happens all over the world. The ceremony of palace guards changing order at a proclaimed time of day, everyday. It happens with a lot of camera flashes and virtually no noise. It goes off over and over again without a hitch.
Probably the most seen guard change in the US is at Arlington Cemetery. I’ve personally been present for Arlington, Buckingham Palace and the Prague Castle. It happens over and over again without much happenstance, but there is something about the uniforms, the boots on ground and the respect of the onlookers making it special every single time, rain or shine.
Well tomorrow, we will have a different kind of guard changing. The changing of our Executive Office is one of tremendous anticipation or regret depending on one’s politics. One thing is certain, however, and that is “the sun will come up tomorrow”, and based on the weatherman, in DC, it will be a sunny day tomorrow. Who knew? Having started in this business during latter days of Gerald Ford and the early days of Jimmy Carter, I can say with certainty, on Thursday, like mosts days, we will get up and do what we do with little or no notice. As the world turns, we continue to do what we do.
We will see many things change. Some gradually, some not so gradually. When I was a kid, I went to the office of our pediatrician in his own home. Now you can video chat with one’s medical specialist. When this business was all about paper, we waited on Fridays to get the MLS Book dropped off. With this in hand, we greeted the weekend with the most analogue source of information imaginable. Now, we can have alerts pop up on our handheld devices as we drive down the street. Now we can have someone buy our property and close within a couple of weeks, no muss, no fuss. (Or so they say…) Nothing is like it seems.
But, one thing is for sure, Bitcoin does not change hands without something or someone making a market. Your shares of Tesla do not change hands without something or someone making a market. Your real estate does not change hands without someone or something making a market. My point being, Without entrepreneurs making markets, participants will struggle to find value, and without value, Bitcoin, Stock and Real Estate will have less or no perceived value.
This makes the perfect segway into this weeks Market Watch. Over the last 7 days, it has been “deja vu all over again”.
|New Listing (687) This is simply too low. Buying a property under $500K has become a “war zone”.|
|Coming Soon (106) Move along, nothing to see here!!!|
|Back On Market (133)|
|Price Increase (357)|
|Price Decrease (277)|
|Pending (1361) As we start 2021derful with this level of absorption means, “deja vu” all over again.|
|Closed (993) A little research suggests, cash transactions with abbreviated escrow periods tells us, market velocity is key to getting a deal done.|
So, along with the sun coming up every morning, it is almost as sure in the Denver Residential Housing Market there will be continued shortage and excess demand. So, what does this mean. If you are an owner already, this is the best time ever to have your home on the market. If you are a buyer, you have to prepare yourself for battle. You might even pick up, download or listen to Sun Tzu. Learning the strategy of war can never hurt, particularly in this market, but knowing who you’re going to battle with will serve you best…tc